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Richard will mentor prospective owners for three months, and may retain a "golden share" - this means he would retain decision-making powers and could prevent a new owner from selling the business.

It was agreed that the government would retain a so-called "golden share", requiring it to approve any major changes to Royal Mail's ownership, headquarters location and tax residency.

The government will maintain a "golden share" which means Mr Kretinsky's business will have to get approval for any changes to Royal Mail's ownership, the location of its headquarters and its tax residency.

The government will retain a so called "golden share" that will require it to approve any major changes to Royal Mail's ownership, HQ location and tax residency.

Members of Congress in March complained that the Chinese government has a "golden share" in ByteDance, giving it power over TikTok.